Paris and Los Angeles have been named as hosts of the 2024 and 2028 Olympic Games respectively, following a historic decision made by the International Olympic Committee (IOC).

Both cities were in line to bid for the 2024 summer Games, until the Los Angeles bid team struck a deal with the IOC, which will see the city wait an extra four years in exchange for guarantees that it would host the 2028 Games.

As part of the agreement, the IOC will release US$1.8bn (£1.4bn, €1.5bn) to the organising committee to “increase participation and access to youth sports programmes” during a longer planning period in the lead up to the Games.

For Paris, securing the 2024 Games will bring to an end two decades of heart-ache, after the city lost out in the bidding for both the 2008 and 2012 Games.

Fittingly, 2024 will mark 100 years since the city last held the Games.

For Los Angeles, 2028 will mark the third time the city has held the Games, having also hosted the summer Olympiad in 1932 and 1984.